Average Brooklyn Townhouse Prices Reach Record $1.1 Million In Q2

7/12/17

While down from last quarter’s record $947,732, the average apartment price in Brooklyn was still 22% higher than a year ago, according to Halstead’s Second Quarter 2017 Brooklyn Market Report. Brooklyn’s apartment prices averaged $896,204 in the second quarter, down slightly from the prior quarter’s record, while the median apartment price in the borough climbed 26% over the past year to a record $723,979. Townhouse prices in Brooklyn averaged a record $1,109,602 in the second quarter, which comes out to $481 per square foot, an 8% increase from the $444 price point at the same time last year.

“Halstead is seeing brisk activity in Brooklyn as the borough continues to attract an influx of buyers seeking great value and variety,” said Trish Martin, Managing Director of Sales at Halstead, Brooklyn. “Residential prices showed strength throughout Brooklyn in the second quarter, but particularly strong was ‘Brownstone Brooklyn’ that includes neighborhoods such as Boerum Hill, Cobble Hill, Dumbo, Windsor Terrace and more, where the average townhouse price jumped 17 percent.”

Halstead’s Second Quarter 2017 Brooklyn Market Report also noted the following data:

  • Brownstone Brooklyn apartments posted sharp gains in both their average and median prices over the past year. The average price of one- to four-family townhomes in the area experienced a 17% increase from the second quarter of 2016, to an average $2,502,204.
  • North Brooklyn’s average condo price per square foot rose 13% over the past year to $1,045. Townhouse prices averaged $869 per square foot, a 5% decline in the area compared to a year ago.
  • At $755, the average condo price per square foot in Central Brooklyn was 13% higher than a year ago. Townhouse prices in the area averaged 14% more than during the second quarter of 2016.
  • South Brooklyn apartments posted a 14% increase in their average price over the past year. At $916,893, the average townhouse price was 8% higher than last year.


About Halstead

As one of the top residential real estate brokerage firms in the New York metropolitan area, Halstead has more than 1,300 sales and rental agents located in premier retail storefront offices in Manhattan, Brooklyn, Queens, the Bronx, the Hamptons, Hudson Valley, New Jersey and Fairfield County, Connecticut. In addition, the Development Marketing Division of Halstead is the exclusive sales and marketing firm for many new developments in the tristate area and through the Property Management Division, Halstead manages more than 25,000 residential units within 250 buildings. To learn more, please visit www.halstead.com.

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